My engine was the same, just a little out of the deck. But mine was a race motor so we cleaned @ .015 off the top of the pistons. That being said if you have a compressed thickness of .040-.045 you will likely be fine. Of more concern is if you use big valves or not? If yes then you will need to check the valves reliefs to see if the valve catches the edge of them. Lift is not much of an issue since the reliefs are plenty deep. My .570 lift, .260 @ .050 cam had plenty of room, but the pockets needed opened up a little to clear edge of the valve. ( They are not quite exactly in the right place)
